Shah Hotels Case Study

In April 2012, the National Bank of Chicago appointed Amicus Management, Inc as a receiver for the five hotels operating in Michigan. During the operational take-over of the hotels, Amicus discovered evidence of severe mismanagement and learned that the borrower intended to file the hotels in separate Chapter 11 proceedings to regain possession and operational control of the hotels during the peak summer months.

Case Study on Cyberco

In probably the most infamous of his receivership cases, Daniel Yeomans and his team of specialists were called upon to takeover business operations and protect the interests of creditors in a more than $150 million scam that would ultimately become an episode of CNBC’s “American Greed” national television show.

Case Study on Student Housing

In July, Amicus Management faced a daunting challenge when it was named court-appointed receiver by the Ninth Judicial Circuit Court for Kalamazoo County to manage and reinvigorate four student-housing complexes near Western Michigan University that offered 344 beds.

Case Study on Fuel Stations

Since many Americans buy gasoline on a regular basis, one would think that operating a fuel station would be both lucrative and recession proof. But in truth, it’s a business that runs on razor-thin margins and, sometimes, at the mercy of public opinion. One miscalculation on the part of management or a tragic accident leading to an oil spill can throw that precarious balance into a death spiral.

Case Study on Condominium Development

In the case of a distressed condominium project that was less than 20% developed, Amicus Management was able to use its status as court-appointed receiver to successfully repackage the 35-acre asset so that is was salable in the ever- changing real estate market.